Success Stories

Account:

Roofing Contractor (FL)

Lines:

Pay-as-you-go Workers’ Compensation

Limits:

$500,000 / 500,000 / 500,000

Premium:

$27,000

This contractor specializes in residential and commercial roofing. The client did not have strong cash flow due to lack of work so NIP Specialty Brokerage came up with a solution that offered a “pay as you go” Workers’ Compensation plan. This solution allows the insured to pay premiums based on reported payrolls on a month-to-month basis.

Account:

Inspection and Engineering Corporation (FL)

Lines:

General Liability/Professional Liability

Limits:

$1,000,000/$2,000,000/$2,000,000

Premium:

$38,000

This engineering firm does non-destructive testing and inspections for the aircraft, petrochemical and power plant industries. NIP Specialty Brokerage secured a market willing to offer Primary/Non Contributory coverage and Ongoing completed operations coverage. The carrier also included a designated premises pollution limit.

Account:

100% Paper GC (NY)

Lines:

General Liability

Limits:

$1M / $2M

Premium:

$50,000

This contractor specializes in residential and commercial renovations in New York City. All work is 100% sub-contracted and the client was looking for reduced premium and rates. Expiring premium was $65,000. We contacted one of our A rated carriers and were able to write it for $50,000 for the 10-11 period, saving the client $15,000.

Account:

Drainage & Waterproofing Contractor (CO)

Lines:

General Liability

Limits:

$1,000,000/$2,000,000/$2,000,000

Premium:

$50,000

This contractor specializes in waterproofing around homes and buildings. The account was non-renewed due to high percentage of residential work. NIP Specialty Brokerage secured a market willing to offer blanket additional insured coverage and blanket waiver of subrogation. The agent was able to offer the right terms with an A rated market that specializes in contractors within that territory.

Account:

Commercial Steel Fabricator of Stairs & Rails (NJ)

Lines:

GL & Umbrella

Limits:

$1M / $2M GL and $10M Umbrella

Premium:

$25,000 (GL) and $36,162 – $10M (Umbrella)

This account was with an admitted carrier when we were contacted to re-market it. NIP Specialty was able to place the account with an E&S on an admitted paper as the risk was domiciled in NJ. Not only was NIP Specialty able to provide the insured $12,000 in premium savings from last year, but we also were able to provide an additional savings of 5% of NJ Sales Tax.

Account:

Steel Erector & Welding (PA)

Lines:

GL & Umbrella

GL Limits:

$1,000,000/$2,000,000 Premium: $36,000

Umbrella Limits:

$3,000,000 Premium: $26,500

The risk is located in Pennsylvania where the applicant performs steel erection, plank erection and welding. This was a new account to an active broker who came to us with exactly what was needed to bind the account. Due to our strong relationships with A rated carriers, we were able to secure the exact coverage, limits and premium necessary to help this agent win the account.

Partner With NIPNIP is known for our entrepreneurial spirit, ability to innovate, and our unique depth of knowledge in key markets. NIP Group has more than 150 employees headquartered in Woodbridge, NJ and draws upon the expertise of highly talented business partners throughout the country and abroad to meet the needs of our clients.Interested Brokers Click Here